February 10, 2012

FOR IMMEDIATE RELEASE
MACROMILL, INC.
Company Representative: Tetsuya Sugimoto, Chairman and President(Code no.: 3730, First Section of Tokyo Stock Exchange)
Contact for further information:
Yasuhiro Kihara, Senior Executive Officer and Chief Financial Officer
TEL: +81-3-6716-0700

Notice of Acquisition of Shares of EMBRAIN CO., LTD. of South Korea andMaking It a Subsidiary Through the Subscription for the Capital Increase Via Private Placement
MACROMILL, INC. (the “Company”) announces that it resolved at the meeting of the Board of Directors
held on February 10, 2012 to make EMBRAIN CO., LTD. (“EMBRAIN”), the Company’s subsidiary byacquiring a 51% stake in EMBRAIN through the share transfer and the subscription for the capital increase
through the private placement. Details are as follows.
1. Reason for the acquisition of the shares
1) Background
The MACROMILL Group announced a medium-term management plan and raised ¥5 billion by issuing
convertible bonds in August 2011. To achieve consolidated net sales of ¥20.0 billion in fiscal year 2014 as
set forth in the plan, the Group has been actively taking the initiative, not only by strengthening existing
domestic operations, but also by developing overseas operations and new businesses through M&A,
business cooperation, and other measures.
In developing overseas operations, the Group recognizes the establishment of research bases mainly in
Asian nations as an important management issue. Accordingly, it established an equity-method affiliate inSouth Korea in 2008, and a consolidated subsidiary in China in 2011. While the Group was taking anumber of initiatives in this way, it has also been striving to achieve ad hoc growth targeting specific goals.
2) EMBRAIN CO., LTD.
EMBRAIN is a leading general research company that was established in 1998 in Seoul, South Korea. It
currently enjoys the largest business share in the internet research market (in terms of sales in 2010 inaccordance with the survey of Korea Research Association (KORA)).
EMBRAIN’s main strengths are its highly credible survey panel, unique solutions, and quality control
know-how. It has also developed and manages unique survey panels in North East Asia, and runs asuperior panel network of 640,000 panels in South Korea, and 550,000 panels, and 150,000 panels throughits subsidiaries in China and Taiwan respectively.
3) Anticipated impact
In South Korea, while the level of the use of the internet is high, the ratio of the internet survey in overallmarketing research remains low at 16% in 2010, compared with a global average of 22% (in accordancewith ESOMAR in fiscal year 2011).

-1-To expand the market, it is necessary to eliminate customer misunderstanding about the quality of internet
research, and gain the trust of customers. The Company aims to generate synergies from the know-how
and the brand of EMBRAIN, which has strong expertise in the South Korean market and customers andhas a solid track record in the market, and the Company’s system capabilities, sales know-how, andfinancial strength that are required for expanding the internet research business. In this way, the Company
believes that the awareness and the credibility of internet research in the South Korean market will
improve at a faster pace, helping to bolster the performance of the Group’s overseas operations.
Moreover, the Company can expect a reduction in outsourcing expenses when it makes overseas researchby using the panels held by EMBRAIN.
By making EMBRAIN, a leading company in the internet research market in South Korea, its subsidiary,
the Company will solidify its business foundation in South Korea, and accelerate the development ofoverseas operations mainly in China, South Korea, and other Asian countries.

2. Method for the acquisition of shares
Based on a share transfer agreement, the conclusion of which was resolved today, and capital increase throughthe private placement resolved by EMBRAIN, the Company expects to acquire 51% of EMBRAIN’s sharesissued.

3. Profile of EMBRAIN CO., LTD., a subsidiary to be acquired(As at the end of December 2011)(1) Trade nameEMBRAIN CO., LTD.
(2) Address
12th Fl, Tower 837 Bldg, 837, Yeoksamdong, Gangnam-gu, Seoul Korea
Title/name of(3)Choi In Su, CEO/Chairman
representative
1. Research and consulting
2. Online advertising and software development
3. Cyber shopping(4) Business
4. Database business
5. Academic research services
6. All other businesses related to businesses described above(5) Capitalization
One billion won(6) Date of incorporation
October 1998
Choi In Su: 34.3 %Kim Yudong: 7.4%
Major shareholders andKim Tae Heon: 6.8%
(7)
their shareholding ratios Billing and Network Solutions Co., Ltd.: 5.1%
Imagine Co., Ltd.: 5.0%
Others: 41.4%
The Company has no capital relationships to be describedwith the company in question. In addition, the Company’s
Capitalrelated parties or affiliates have no particular capital
relationshiprelationships with the related parties or affiliates of thecompany in question.
The Company has no personnel relationships to be described
Relationships between
with the company in question. In addition, the Company’sPersonnel(8) the listed company andrelated parties or affiliates have no particular personnel
relationshipthe company in question
relationships with the related parties or affiliates of thecompany in question.
The Company has no business relationships to be describedwith the company in question. In addition, the Company’s
Businessrelated parties or affiliates have no particular business
relationshiprelationships with the related parties or affiliates of thecompany in question.
-2-Business performance and the financial situation of the company in question for the last three years(Upper figure: thousand won; Lower figure: million yen)
Fiscal year ended
Fiscal year ended
Fiscal year ended
Fiscal year
December 2008
December 2009
December 2010
2,201,419
2,588,686
3,340,046
Net assets
154
181
233
6,947,034
9,197,704
10,413,054
Total assets
486
643
728
2,201 won
2,588 won
3,340 won
Net assets per share
154 yen
181 yen
233 yen
10,140,978
11,168,867
12,279,475
Net sales
709
781
859
249,408
1,050,704
1,238,407
Operating income
1773
86
289,812544,479
942,613
Ordinary income
2038
65
289,812387,266
751,359
Net income
202752289 won387 won
751 won
Net income per share
20 yen27 yen52 yenDividend per share―――* Currencies converted by 1 won at ¥0.07(9)

4. Profile of the party from whom the shares are acquired(1) NameChoi In Su(2) Address
South Korea
The Company has no capital, personnel, or business relationships to bedescribed with the person in question (including close members of theRelationships between the family and companies and other entities and their subsidiaries the majority(3) listed company and theof whose shares are held by them). In addition, the Company’s related
person in question
parties or affiliates have no particular capital, personnel or business
relationships with the person in question or the related parties or affiliatesof the person in question.
* The Company expects to acquire 426,259 shares from the shareholder as described above.

5. Outline of the capital increase through the private placement by EMBRAIN(1) Payment dateFebruary 29, 2012 (scheduled)
Number of new shares to(2)170,900 shares
be issued(3) Issue price
11,700 won per share (¥819)(4) Total funds to be raised
1,999,530,000 won (¥139,967,100)
Solicitation or allocation(5)
Private placement
methodParty and the number of(6)MACROMILL, INC.: 170,900 sharesshares to be allocated* Currencies converted by 1 won at ¥0.07* As a result of this capital increase through the private placement, EMBRAIN’s capital becomes 2,999
million won (¥209 million).

-3-

6. Number of shares to be acquired, the acquisition amount, and the situation of shares before and after theacquisition
0 shares
Number of shares held
(1)
(Number of voting rights: 0)
before the acquisition(Holding ratio: 0%)597,159 shares
Number of shares to be(Number of voting rights: 597,159)(2)
acquired(Ratio against the number of shares issued: 51.0%)(Acquisition amount: 9,326 million won (¥652 million)
597,159 shares
Number of shares held
(3)
(Number of voting rights: 597,159)
after the acquisition(Holding ratio: 51.0%)

7. Schedule
Resolution by the Board(1)of Directors
Transfer date of share(2)certificates
Payment date for new(3) shares issued through theprivate placement

February 10, 2012
February 29, 2012 (scheduled)February 29, 2012 (scheduled)

8. Future prospects
As a result of the transaction described above, EMBRAIN will become a consolidated subsidiary of theCompany. This will produce a limited impact on the Company’s consolidated operating results for the fiscalyear ending June 2012. However, the Company anticipates that this transaction will contribute approximately¥1.1 billion in net sales and ¥0.1 billion in ordinary income for fiscal year ending June 2013. The Companyand EMBRAIN will cooperate in their operations to enhance the use of internet research in South Korea andbolster the business performance of the MACROMILL Group in the future.

(Reference) Consolidated business forecast for the current fiscal year (announced August 3, 2011) andconsolidated results for the previous fiscal year
(Million yen)
Consolidated
Consolidated
Consolidated
Consolidated
net sales
operating income ordinary income
net income
Consolidated business forecast
for the current fiscal year
14,200
2,900
2,900
1,500
(Fiscal year ending June 2012)
Consolidated results for theprevious fiscal year
12,210
2,604
2,522
1,171
(Fiscal year ended June 2011)-4-